Post

$BTC Price has been trading inside this range for roughly three weeks now.



During that time, BTC has swept the pmH, while the pmL has so far remained untouched.

Although price has just reclaimed the range low after briefly deviating below it and taking out a decent amount of long liquidity, I still wouldn’t lean too bullish here.

If we compare the current price action to the corresponding 2022 fractal, we can see that after the explosive breakout from the bottoming range, price formed another range and traded inside it for exactly 18 days before selling off into a key support level.

This was then followed by another rally where price pumped roughly 20% from the lows.

If BTC follows a similar pattern this time around, that would suggest we could still see another move below the range lows before the continuation to the upside begins.
post-image
This page contains third-party content and does not constitute any advice, nor does it represent Gate's endorsement of such views. For details, please see disclaimer.
BTCBTC-0.65%

  • 2

Add a comment
Add a comment

Comment 17
Back to 1 million u
I’m very familiar with this 18-day script. Last time, I bought in midway through a false breakout; this time, I’ve learned my lesson and will wait until a genuine breakdown before taking action.
GateUser-a9a96875
Hold tight 💪
GateUser-28a6ea12
LFG 🔥
GateUser-28a6ea12
LFG 🔥
GateUser-28a6ea12
LFG 🔥
GateUser-28a6ea12
LFG 🔥
GateUser-28a6ea12
LFG 🔥
GateUser-28a6ea12
LFG 🔥
Starry Sky
I am very familiar with the price action over these 18 days. Last time, I bought in midway through a false breakout; this time, I’ve learned my lesson and will wait until a real drop occurs before taking action.
Good luck
gogogogo gogogogo gogogogo
Kami Traders
This was then followed by another rally where price pumped roughly 20% from the lows.
If BTC follows a similar pattern this time around, that would suggest we could still see another move below the range lows before the continuation to the upside begins.
GateUser-914bcddc
I know this 18-day script well. Last time, I bought in halfway through a false breakout; this time, I’ve learned my lesson and will wait for a real breakdown before making a move.
devia
So when will it rise? It's hard
Paxton
this is interesting insight
Faizan Akram
I know this 18-day script well. Last time, I bought in halfway through a false breakout; this time, I’ve learned my lesson and will wait for a real breakdown before making a move.
MempoolSparrow
The 2022 fractal does look similar, but the market won’t simply replicate it. Before pmL was swept, my position was very light.
ThechainCafe
How does SHOW Token plan to turn the attention from